Shares of GameStop (GME) have split on a four-for-one basis and have begun trading at $38 U.S. per share.
Shareholders of the video game retailer received three additional shares for each one they owned. The company first announced plans to split its stock in March of this year.
A stock split doesn’t directly impact the value of a company but divides existing shares into smaller pieces.
GameStop is following other technology companies that have also split their stocks this year, including Amazon (AMZN) and Google parent company Alphabet (GOOGL), which each split their shares on a 20-for-1 basis.
Electric vehicle maker Tesla has announced plans to split its stock on a 3-for-1 basis.
Known as the original meme stock, GameStop shares have been caught in a short squeeze several times over the past 18 months and have risen above $350 U.S. per share.
The short squeeze in GameStop stock led at least one hedge fund to collapse and resulted in several documentaries being made about what happened and meme stocks in general.
Prior to today’s stock split, GameStop’s share price had fallen 75% year-to-date and was trading at $158.75 U.S. per share.
